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After India’s Russian oil rollback, GTRI says it’s Washington’s turn to cut the tariff
Indian trade think tank Global Trade Research Initiative (GTRI) has urged Washington to swiftly roll back the additional 25 percent additional tariff imposed on Indian goods under the “Russian oil” category, arguing that the surcharge has lost any remaining justification after India sharply cut its crude imports from Moscow
Calling the duty an unfair surcharge, the think tank said the tariff, originally levied as a penalty for India’s earlier purchases of Russian oil, no longer reflects current trade realities. The appeal comes just days after US President Donald Trump publicly acknowledged that India has “very substantially” stopped buying Russian oil.
On November 11, Trump also confirmed that the duty had been imposed solely because of India’s earlier Russian crude imports, asserting that “we’re going to be bringing the tariffs down.” GTRI said that with this admission and assurance, the US should move “without delay” to withdraw the levy, instead of tying its removal to wider, slower-moving trade talks
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